When is the best time to sell your home?
There are a few questions in any marketplace which seem to be asked more often than others and when it comes to property “when is the best time to put my house on the market?” is one of them.
I could start to throw statistics at you now, such as, there is a peak in properties coming to market in the spring so that is obviously a good time. Buyers are thinking about getting into their new home for summer (a subjective term, we do live in Britain after all) so presenting your property then is a good idea.
It is a good idea to market in spring.
There is also a peak in instructions in September as buyers seek to get into their new home for Christmas. This is also a good time for the same reason, you are presenting your house for sale when there are buyers looking to buy.
There is, however, a good counter argument to this. If you bring your house to market in August for instance, before the next wave of instructions, there is less choice available for buyers. Those buyers who are still looking at that point will, more than likely, be willing to pay a little more because their options are limited. Your property will stand out rather than get lost in the crowd.
Now that we are speaking strategically, what about planning your own sale specifically to maximise your sale price, whilst giving you the option of buying when there is plenty of stock available?
Not many people think this way. Most of us put our houses on the market when we see a property that we like for sale. We enter the market when there seems to be an available exit.
If you consider this for a moment it makes sense. In an unfamiliar situation where we do not have large amounts of experience, comforting factors play a substantial role. When more people are doing the same thing as us we feel more comfortable.
So in simple terms then, all we need to do is find that time where we can maximise our price and look to get a good buy, whilst moving in time for an annual event, preferably when everyone else is doing exactly the same. Easy!
Clear as mud? Let’s muddy those waters a little more.
Your personal circumstances haven’t been considered yet. You may have a definitive timescale, that whilst known is not properly understood. For instance, you may be trying to get into that all important school catchment area.
If you are looking at putting your house on the market in May, to be in the right area before the September term, you are already too late. If your house takes a month to sell and three months to go through conveyancing (there may be a chain involved that is not fully formed straight away) your deadline for enrolment may have passed.
The single most important factor whilst deciding when to put your house on the market therefore, is you!
At Newton Fallowell West Bridgford, the first thing we do is construct a detailed marketing plan. We discuss exactly why you are looking to move and then build a timeline. It is not only a fun process, but it gives you two very important things.
Firstly it gives you focus. You know what you are doing, why you are doing it and when everything is going to happen. This gives us the opportunity to strategize regarding your sale price and your purchase price. It allows us to plan properly.
Secondly and in my opinion most importantly of all, it gives you reassurance. How many times do you hear people talking about the stress of selling their house? Poor planning or in most cases, no effective planning leads to stress.
When you are forced to deal with things that you don’t expect or understand the result is stress.
In most cases in our day to day lives we adapt and learn and establish routines. The first time you get the family ready for the school run bears almost no resemblance at all to the last time.
The problem is you only sell your home every 10 years on average, you don’t have the time to establish a routine.
So let’s answer the question properly, when is the best time to sell your home?
The answer is both simple and infinitely complex, it depends on you as an individual or family. As soon as I understand your situation properly, I can tell you exactly when to put your home on the market. Unlike you I have done this hundreds of times.
If you would like more detail on how best to sell your home, please call and we can discover when the right time is for you.